NIO began nationwide deliveries of the five-seat ES8 SUV in China on July 10. This rollout occurred one day after the model's official launch.
The new version starts at 382,800 yuan ($56,470). This price point is approximately 6% lower than existing three-row models.
ES8 deliveries dropped 22% month-over-month in June. Rising raw material costs added nearly 20,000 yuan ($2,950) to the production of each vehicle.
CEO William Li stated the company will absorb these costs for now. NIO’s U.S.-listed shares rose nearly 2% in pre-market trading following the announcement.